Got word back from my realtor that the seller countered my offer for the land. Here are the relevant figures:
- Lot: 0.38 Acres, good location, house needs to be torn down
- Asking Price: $40,000
- On the market: 371 days
- Previous offers by not me: Two at $20,000
- My first offer: $26,000
- Their counter offer: $33,000
So the good news is they came down, the bad news is I’m not sure we can come together to a agreeable price. My sticking point is still that the location is undesirable (on an on-ramp) and the house needing torn down is an immediate $10,000+ spend.
At a co-worker’s suggestion, I am considering countering with a very specific number. Old trick, but it works. Thinking $28,164 or something like that.
Yes, this is all pretty small potatoes, but I hate the thought over overpaying for something like this...